SolTech Energy’s new stock issue was substantially oversubscribed.
This oversubscription of SolTech’s new stock issue, which came about as a result of the acquisition of all Wasa Rör stock, was received with considerable cheer at SolTech. In all, 912,125 shares were allotted in this subscription bringing in 7,297,000 Swedish crowns before the deduction of customary new issue costs, corresponding to an oversubscription of almost 100%.
With aim of further strengthening the Company’s finances prior to the expansion of Wasa Rör as well as SolTech, the board of directors decided, making use of the authority granted them at the 2013 annual stockholders meeting, that the same conditions that applied to the subscribers who were allotted shares in the new stock issue would also apply to the issue’s “overrun” or “surplus” subscribers, in the form of a separate directed new share issue to these subscribers.
Board members are proud and honored by the trust that the Company’s shareholders have shown.
“It is quite apparent that SolTech’s progress, and not least, the acquisition of Wasa Rör, is something our shareholders set great worth by and that it instills in them a willingness to invest,” says SolTech’s CEO, Frederic Telander.
“SolTech stands at the threshold of a vey exciting fall with secure financing, new customers, and new co-workers on the way in. We view the future, overall, with confidence – both for our subsidiary Wasa Rör, as well as for SolTech Energy,” states CEO Frederic Telander in a closing commentary.